Establishing LogisticsX In South Korea
Ever since our launch, LogisticsX has identified the need to establish our project in South Korea and hence we have been focusing on building our Korean community and partners. LogisticsX has started to work with several DApps based in South Korea and also building our application on ICON. In this article, I’ll explore them in the following order below.
- Why Korea?
- What is special about Korean Crypto market?
- Why partner with ICON?
- What’s next for LogisticsX?
Why Korea?
South Korea accounts for one of the largest Crypto trading volume in the world. The world’s largest exchanges are either from Korea or have launched branches within. Many exchanges have mentioned that Korea is one of the most important Crypto markets in the world and is a key player to forming the future standards of the Crypto world.
South Korea is one of the earliest to understand the fact that blockchain is a critical industry for them to conquer as evidenced by multi million dollar investments by the government as well as several prominent politicians urging regulatory oversight. Also, with large corporations backing the largest exchanges in Korea and many of them looking to tokenize, the pressure is strong from both individuals and companies for clear regulations.
What is special about Korean Crypto market?
Almost 30% of the working adults in Korea are investing in cryptocurrencies and this is remarkably high as compared to any part of the world globally. It helped to normalize the idea of cryptocurrencies on a national scale which fundamentally changed the nature of the market.
The Korean crypto market is unique in that leading traditional companies are looking to tokenize/apply blockchain to their existing business models. That is to say that top companies, not those starved for money, are looking at the blockchain/cryptocurrency market as the next sector to conquer, much like they viewed the web and mobile markets.
Why partner with ICON?
Ever since 2016, ICON has played an important role in several core government blockchain initiatives and is the government’s leading blockchain tech partner. ICON is working on several government backed projects in several industry such as Insurance, Healthcare, Customs Service, and Education industries and received government funding from both the Ministry of Creation and Science and the Ministry of Science, ICT and Future Planning.
Furthermore in September, ICONLOOP was selected as an operator of Seoul’s Standard Blockchain platform for the ‘Seoul Blockchain Demonstration Project,’commissioned by the Seoul Metropolitan Government.
Currently. ICON is still actively leading state-level discussions with the government to accelerate the state of crypto legislation in the country. Regardless of which regulatory stance Korea chooses, it’s clear that it matters, and ICON will still be the main stakeholder that will continue to push discussions.
By partnership with ICON, LogisticsX would gain a greater access to a bigger network of partners and investors, including the Korean Government as well. This would be greatly help LogisticsX in terms of its presence in Korea.
What’s next for LogisticsX?
LogisticsX is actively looking for Korean partnerships and alliances to expand our awareness in the Korean Community. It is critical for LogisticsX to build our presence in Korea, evidenced by the number of successful blockchain companies and the high trading volume of cryptocurrencies.
Also, we are looking forward to setting up a Korean team and office in the near future! Stay tuned to our announcements!
About LogisticsX
LogisticsX aims to utilise blockchain technology to create a decentralised platform that will tackle the challenges in the last-mile logistics. It is envisioned that the trustless nature of the platform will provide the foundation for a harmonized ecosystem between the different stakeholders involved in the last-mile process. LogisticsX will introduce sharing economy into the ecosystem, utilizing untapped space (Parker) and time (Runner) to further enhance the efficiency.
LogisticsX envisions to set forth the global common standard for the connection between logistics stakeholders to increase efficiency in a global parcel delivery network.
Further Readings:
Website: https://www.logisticsx.io
Telegram: https://t.me/logisticsx
Twitter: https://twitter.com/LogsXOfficial
Whitepaper: https://logisticsx.io/documents/LogisticsX-Whitepaper-V1.4-11-June-2018.pdf
For investments or Partnerships, please contact us at: enquiries@logisticsx.io
